Action Code definition

Action Code. To report the Borrower's filing for bankruptcy or instituting some other type of litigation that will prevent or delay liquidation of the Mortgage Loan. The Action Date will be either the date that any repayment plan (or forbearance) instituted by the bankruptcy court will expire or an additional date by which the litigation should be resolved. Action Code 20 - To report that the Borrower has agreed to a deed-in-lieu or an assignment of the property. The Action Date is the date the Servicer decided to pursue a deed-in-lieu or the assignment. Action Code 30 - To report that the decision has been made to foreclose the Mortgage Loan. The Action Date is the date the Servicer referred the case to the foreclosure attorney. Action Code 60 - To report that a Mortgage Loan has been paid in full either at, or prior to, maturity. The Action Date is the date the pay-off funds were remitted to the Master Servicer. Action Code 65 - To report that the Servicer is repurchasing the Mortgage Loan. The Action Date is the date the repurchase proceeds were remitted to the Master Servicer. Action Code 70 - To report that a Mortgage Loan has been foreclosed or a deed-in-lieu of foreclosure has been accepted, and the Servicer, on behalf of the owner of the Mortgage Loan, has acquired the property and may dispose of it. The Action Date is the date of the foreclosure sale or, for deeds-in-lieu, the date the deed is recorded on behalf of the owner of the Mortgage Loan. Action Code 71 - To report that a Mortgage Loan has been foreclosed and a third party acquired the property, or a total condemnation of the property has occurred. The Action Date is the date of the foreclosure sale or the date the condemnation award was received. Action Code 72 - To report that a Mortgage Loan has been foreclosed, or a deed-in-lieu has been accepted, and the property may be conveyed to the mortgage insurer and the pool insurance claim has been filed. The Action Date is the date of the foreclosure sale, or, for deeds-in-lieu, the date of the deed for conventional mortgages. The Loss Mit Type field should show the approved Loss Mitigation arrangement. The following are acceptable: ASUM-Approved Assumption BAP-Borrower Assistance Program CO-Charge Off DIL-Deed-in-Lieu FFA-Formal Forbearance Agreement MOD-Loan Modification PRE-Pre-Sale SS-Short Sale MISC-Anything else approved by the PMI or Pool Insurer Wells Fargo Bank will accept alternative Loss Mitigation Types to txxxx above, provided that they are c...
Action Code means a numerical designation applied to ADSAC by the Oklahoma Department of Public Safety, and which will be provided by ODMHSAS to organizations and institutions conducting ADSAC, for use in completing the written verification of an individual's completion of an ADSAC.
Action Code means a numerical designation applied to ADSAC Courses by the

Examples of Action Code in a sentence

  • Action Code 12 - To report a Mortgage Loan for which the Borrower has been granted relief for curing a delinquency.

  • Action Code 60 - To report that a Mortgage Loan has been paid in full either at, or prior to, maturity.

  • Action Code 30 - To report that the decision has been made to foreclose the Mortgage Loan.

  • Action Code 71 - To report that a Mortgage Loan has been foreclosed and a third party acquired the property, or a total condemnation of the property has occurred.

  • MM/DD/YYYY 10 Action Code Key: 15=Bankruptcy, 00=Xxxxxxxxxxx, , 00=XXX, 63=Substitution, 65=Repurchase,70=REO 2 ACTION_CODE The standard FNMA numeric code used to indicate the default/delinquent status of a particular loan.

  • Action Code 70 - To report that a Mortgage Loan has been foreclosed or a deed-in-lieu of foreclosure has been accepted, and the Servicer, on behalf of the owner of the Mortgage Loan, has acquired the property and may dispose of it.

  • Action Code 72 - To report that a Mortgage Loan has been foreclosed, or a deed-in-lieu has been accepted, and the property may be conveyed to the mortgage insurer and the pool insurance claim has been filed.

  • Action Code 20 - To report that the Borrower has agreed to a deed-in-lieu or an assignment of the property.

  • Action Code 65 - To report that the Servicer is repurchasing the Mortgage Loan.

  • The Action Code Field should show the applicable numeric code to indicate that a special action is being taken.


More Definitions of Action Code

Action Code. 70 - To report that a Mortgage Loan has been foreclosed or a deed-in-lieu of foreclosure has been accepted, and the Servicer, on behalf of the owner of the Mortgage Loan, has acquired the property and may dispose of it. The Action Date is the date of the foreclosure sale or, for deeds-in-lieu, the date the deed is recorded on behalf of the owner of the Mortgage Loan. Action Code 71 - To report that a Mortgage Loan has been foreclosed and a third party acquired the property, or a total condemnation of the property has occurred. The Action Date is the date of the foreclosure sale or the date the condemnation award was received. Action Code 72 - To report that a Mortgage Loan has been foreclosed, or a deed-in-lieu has been accepted, and the property may be conveyed to the mortgage insurer and the pool insurance claim has been filed. The Action Date is the date of the foreclosure sale, or, for deeds-in-lieu, the date of the deed for conventional mortgages. The Loss Mit Type field should show the approved Loss Mitigation arrangement. The following are acceptable: Xxxxx Fargo Bank will accept alternative Loss Mitigation Types to those above, provided that they are consistent with industry standards. If Loss Mitigation Types other than those above are used, the Servicer must supply Xxxxx Fargo Bank with a description of each of the Loss Mitigation Types prior to sending the file. The Occupant Code field should show the current status of the property. The acceptable codes are: SUBSEQUENT MORTGAGE LOAN PURCHASE AGREEMENT, dated as of April 29, 2005 as amended and supplemented by any and all amendments hereto (collectively, the "Agreement"), by and between EMC MORTGAGE CORPORATION, a Delaware corporation (the "Seller"), and STRUCTURED ASSET MORTGAGE INVESTMENTS II INC., a Delaware corporation (the "Purchaser"). Upon the terms and subject to the conditions of this Agreement, the Seller agrees to sell, and the Purchaser agrees to purchase, certain conventional, adjustable rate, first lien mortgage loans secured primarily by one- to four-family residential properties (collectively, the "Subsequent Mortgage Loans") as described herein. The Purchaser intends to deposit the Subsequent Mortgage Loans into a trust fund (the "Trust Fund") named GreenPoint MTA Trust 2005-AR3, Mortgage Pass-Through Certificates, Series 2005-AR3 (the "Certificates"), created under a pooling and servicing agreement, dated as of June 1, 2005 (the "Pooling and Servicing Agreement"), among the Purc...
Action Code. Key: 2 ACTION_CODE The standard FNMA numeric code used to indicate 15=Bankruptcy, the default/delinquent status of a particular 30=Foreclosure, , loan. 60=PIF, 63=Substitution, 65=Repurchase, 70=REO INT_ADJ_AMT The amount of the interest adjustment as 2 No commas(,) or 11 reported by the Servicer. dollar signs ($) SOLDIER_SAILOR_ADJ_AMT The Soldier and Sailor Adjustment amount, if 2 No commas(,) or 11 applicable. dollar signs ($) NON_ADV_LOAN_AMT The Non Recoverable Loan Amount, if applicable. 2 No commas(,) or 11 dollar signs ($) LOAN_LOSS_AMT The amount the Servicer is passing as a loss, 2 No commas(,) or 11 if applicable. dollar signs ($) PLUS THE FOLLOWING APPLICABLE FIELDS: SCHED_BEG_PRIN_BAL The scheduled outstanding principal amount due 2 No commas(,) or 11 at the beginning of the cycle date to be passed dollar signs ($) through to investors. SCHED_END_PRIN_BAL The scheduled principal balance due to 2 No commas(,) or 11 investors at the end of a processing cycle. dollar signs ($) SCHED_PRIN_AMT The scheduled principal amount as reported by 2 No commas(,) or 11 the Servicer for the current cycle -- only dollar signs ($) applicable for Scheduled/Scheduled Loans. SCHED_NET_INT The scheduled gross interest amount less the 2 No commas(,) or 11 service fee amount for the current cycle as dollar signs ($) reported by the Servicer -- only applicable for Scheduled/Scheduled Loans. ACTL_PRIN_AMT The actual principal amount collected by the 2 No commas(,) or 11 Servicer for the current reporting cycle -- dollar signs ($) only applicable for Actual/Actual Loans. ACTL_NET_INT The actual gross interest amount less the 2 No commas(,) or 11 service fee amount for the current reporting dollar signs ($) cycle as reported by the Servicer -- only applicable for Actual/Actual Loans. PREPAY_PENALTY_ AMT The penalty amount received when a borrower 2 No commas(,) or 11 prepays on his loan as reported by the dollar signs ($) Servicer. PREPAY_PENALTY_ WAIVED The prepayment penalty amount for the loan 2 No commas(,) or 11 waived by the servicer. dollar signs ($) EXHIBIT 1: CONTINUED STANDARD LOAN LEVEL FILE LAYOUT COLUMN NAME DESCRIPTION DECIMAL FORMAT COMMENT MAX SIZE ----------- ----------- ------- -------------------- -------- MOD_DATE The Effective Payment Date of the Modification MM/DD/YYYY 10 for the loan. MOD_TYPE The Modification Type. Varchar - value can 30 be alpha or numeric DELINQ_P&I_ADVANCE_AMT The current outstanding principal and interest 2 No commas(,) or 11 ...

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